Getting Started with a Bitsgap Buy The Dip (BTD) Trading Bot

"Buy the dips" means purchasing a coin after it has fallen in value. As the price drops, for many traders, it creates an opportunity to purchase more of that coin and increase their future gain when the price bounces back. Accumulating more of the base currency when the price decreases is considered to be one of the most efficient ways for downtrend trading.

You can use the Buy the Dip bot if you want to increase the amount of the base currency for chosen pair in situations when the price is decreasing.

In this part, you will learn how to create and run your first Buy the Dip bot. Please, follow our step-by-step instructions below.

To start a new BTD bot, click the [Start new bot] button located in the top menu of the Bots page.

From the list of all available Spot bots, select [BTD Bot]. This will reveal a new widget on the right corner of your screen where the settings of your BTD Bot can be adjusted.

On the right side of your screen, a menu for creating your first BTD Bot will be shown, where you can select the exchange, the pair, the investment and set the advanced settings if you want to customize them to your strategy.
You can learn more about advanced settings in our article - Unlocking the full Potential of your BTD Bot: A Walkthrough of Manual Adjustments.

Let's move to the next step. Start by selecting an exchange and a pair. Click on the “Exchange” window to choose an exchange, then “Pair” to set the trading pair. Once this is done, move to the following step.

Enter the total investment value you would like to operate with or use the slider to specify the percentage based on your available balance.

The Investment field shows:

The Available for bot to use window displays the amount of both currencies available on your balance, already taking into account the deduction of 5%, which is reserved to cover any trading fees charged by the exchange.

Once everything is set up, click the [Continue] button.

Backtest allows you to evaluate the bot's performance based on historical data of a trading pair for a selected period. However, it may help you understand your bot’s settings and optimize them for the selected trading pair.

To backtest your bot settings, click on the [Backtest] button. In the pop-up window, you will see the calculated bot's results (bot profit) with the current settings for the past 30 days (by default), as in the example below.

This is the final step before launching the bot. Here you can review all the selected settings.

Preview settings

• Exchange;
• Trading pair;
• How much you have invested in the bot;
• Your profit currency;
• Amount of base currency in open sell orders;
• Amount of quote currency in open buy orders;
• High and low prices;
• Number of grid levels and a grid step between them;
• Trailing on/off.

If changes need to be made, go back by clicking on the arrow. Otherwise, hit the [Start Bot] button to get started.

You can always track your bot's results in the detailed "Performance" window. This will help you better understand your bot's performance, as well as get more detailed information about each transaction. It can be found on the right-hand side after clicking on a necessary bot:

Here you can see overall and daily bot profit, unrealized PNL, trading time, and the number of completed transactions. It also shows the ratio of the quote and base currency in open orders and their current value.

You can find more information about your completed and open bot trades in the "Bot orders" tab. To access the tab, click [Bot actions] and select the [View details] option.

The “History” tab displays specific details on all the trades your bot has already completed. Here you will see the following information:

If you want to check the status of your bot open trades, head to "Open orders" in the "Bot orders" tab:

Here you can find the "Open orders" tab with more info about the number of open orders, their time, side, type, price, amount, and status.

Whenever you want to adjust settings on any bot, select the bot you need and press [Bot actions] > [Modify Bot] on the right-hand side.

Once all the necessary changes have been made, proceed by clicking the [Continue] button. Double-check the new settings on the bot's preview page, and then press [Confirm].

To close a Buy the Dip bot, select the one you need, and navigate the mouse cursor to the [Close] icon.

On your right-hand side, you will see a panel with your bot's current status and closing options.

Stop Bot Conditions

1. Cancel all open orders: This option will close all your open orders; the base currency and the quote currency from open trades will return to your available balance.

2. Buy at limit price: Your bot will get canceled, and the system will place a limit order either at its break-even price or at any price of your choice. This way, you can buy the base currency back and take the profit at any level.

3. Buy back at the market price: By choosing this option, you will buy all the base currency back at the market price, leaving you the results highlighted in the Total PNL column.

After deciding how you want to close your bot, press the [Confirm] button. This will initiate the process of shutting your bot down.

To restart a closed bot, go to the [History] tab. Then select the bot that you prefer and click [Bot actions]>[Restart].

Adjust the settings if needed, and proceed to the bot's preview tab. Double-check all the parameters again and start a bot by pressing [Start Bot].